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Oil Hits $116

Benzinga

45 Views • Mar 30, 2026

Description

Brent crude surged 3%+ to $116/barrel — briefly hitting $119 — as the Iran war escalated with Houthi missile launches at Israel and an Israeli invasion of southern Lebanon. Oil is up ~60% since the war began February 28th as the Strait of Hormuz closure disrupts one-fifth of global oil and LNG supplies.

Keywords & Tags

#commodities #Israel #Iran #Lebanon #Houthis #geopolitics #Brentcrude #MiddleEast #OilMarket #StraitOfHormuz

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